Bank Alert: Many accounts of this government bank were closed in June, know the reason

New Delhi. The rules of private sector Punjab National Bank (PNB) have changed in June. The bank had issued a circular in May informing that the accounts which are not active for three years will be closed from June.

Apart from this, the bank had also said that even if there is no balance in the account then the account will become inactive.

This means that if you have not done any transaction of any kind in your PNB bank account for the last three years, then your account would have been closed from June 1, 2024. Apart from this, if there is no money in your account for a long time i.e. the account balance is zero, then also the account would have become inactive.

According to the notice of PNB, the bank has given concessions to some special account holders. If an account holder has a locker or a Demat Account in PNB, then his account will not be closed. That is, even if the account holder has not done any transaction for three years, his account will remain active.

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At the same time, the accounts of those account holders who opened accounts to take advantage of the government scheme will also not be deactivated. Apart from this, the accounts of customers below 25 years of age will also remain active.

If the bank account of any account holder is frozen on the orders of the court, income tax department or any other legal institution, then in such case the bank account will not be closed.

Why did the bank take this decision

According to the bank, many people used to misuse such inactive accounts. In such a situation, keeping in mind the security of the account, the bank has taken this decision.

The bank said that after this decision, inactive accounts cannot be used for illegal activities like fraud or money laundering.

how to activate inactive account

If your PNB account becomes inactive, then to activate it again you will have to go to the nearest branch of the bank. Here you will have to submit the KYC documents required to activate the bank account.